Greek households’ available income up, spending down in Q4

The available income of Greek households and non-profit institutions offering services to households grew 0.4 pct to 29.5 billion euros in the fourth quarter of 2017, from 29.4 billion in the same period in 2016, although the final consumption spending fell 0.6 pct in the same period to 31 billion euros, Hellenic Statistical Authority said on Friday.

The statistics service, in a report, said that the savings rate (gross savings to gross available income) was -5.0 pct in the October-December 2017 period from -6.0 pct in the corresponding period in 2016.

Private investments (gross fixed-capital investments by non financial companies) totaled 2.2 billion euros, the external balance of goods and services showed a deficit of 2.4 billion euros (a shortfall of 2.5 billion in 2016), with imports rising 1.2 pct to 15.8 billion euros and exports rising 1.2 pct to 13.4 billion euros.

The external balance of primary incomes, current and capital transfers showed a surplus of 1.1 billion euros in the fourth quarter of 2017 from a surplus of 1.9 billion the same period in 2016.